Insurance adjusters play a crucial role in the claims process, helping insurance companies and policyholders settle claims fairly and efficiently. In Oklahoma, becoming an insurance adjuster can be a rewarding career, with the opportunity to work in various areas of the insurance industry, from auto claims to property damage and beyond.
What is an Insurance Adjuster?
An insurance adjuster is a professional who investigates insurance claims on behalf of insurance companies to determine the amount of money the policyholder is entitled to receive based on the terms of their insurance policy. They assess damages, interview claimants, gather evidence, and evaluate medical reports, police records, and other documentation to determine the appropriate settlement.
There are several types of insurance adjusters:
- Staff Adjusters: Employed directly by insurance companies.
- Independent Adjusters: Hired on a contract basis by insurance companies.
- Public Adjusters: Represent the policyholder and help them negotiate with the insurance company.
This guide focuses on the general path for becoming an adjuster in Oklahoma, which applies to staff and independent adjusters.
Steps to Becoming an Insurance Adjuster in Oklahoma
Step 1: Meet the Eligibility Requirements
To become an insurance adjuster in Oklahoma, you must meet the following basic requirements:
- Age: You must be at least 18 years old.
- Residency: You do not need to be a resident of Oklahoma, but you do need to meet Oklahoma’s licensing requirements if you wish to work as an adjuster in the state.
- Criminal Background: A felony conviction may disqualify you from becoming an adjuster. However, you may still be eligible if you have been pardoned or the conviction is expunged.
Step 2: Complete Pre-Licensing Education
Oklahoma requires individuals who wish to become licensed insurance adjusters to complete pre-licensing education. The pre-licensing requirements include:
- 16 Hours of Pre-Licensing Education: Oklahoma requires you to complete at least 16 hours of pre-licensing education through an accredited provider. These courses cover topics such as insurance laws, claims processes, ethics, and the role of an adjuster.
- Approved Providers: Oklahoma’s Insurance Department provides a list of approved pre-licensing education providers. These can be taken online or in person, and they typically cost between $100 and $300.
Step 3: Pass the Insurance Adjuster Exam
Once you have completed your pre-licensing education, you must pass the Oklahoma Insurance Adjuster Exam. The exam covers a range of topics related to insurance policies, claim handling, ethical considerations, and the specific laws and regulations that govern the insurance industry in Oklahoma.
The exam typically consists of 100 multiple-choice questions and has a time limit of 2 hours. You must score at least 70% to pass. The topics of the exam include:
- Insurance basics
- Claim investigation and settlement
- Oklahoma-specific insurance laws and regulations
- Adjuster ethics and responsibilities
- Property damage assessment
You can schedule the exam with a third-party testing provider, such as Pearson VUE, which handles the exam administration for the Oklahoma Insurance Department. The cost of the exam is typically around $50.
Step 4: Submit Your Application for a License
After passing the exam, you need to submit an application to the Oklahoma Insurance Department for your insurance adjuster license. This application includes:
- Proof of completion of pre-licensing education.
- Proof of passing the Oklahoma insurance adjuster exam.
- A criminal background check.
- Any required fees, which typically cost around $50.
Applications can be submitted online through the Oklahoma Insurance Department’s portal.
Step 5: Complete Continuing Education
Once you become a licensed insurance adjuster in Oklahoma, you must complete continuing education (CE) courses to keep your license active. The state requires 24 hours of continuing education every two years, which includes:
- 3 hours of ethics education.
- The remaining hours can be filled with courses related to the claims process and insurance law.
It’s important to complete your CE requirements to avoid your license becoming inactive.
Types of Insurance Adjuster Licenses in Oklahoma
In Oklahoma, there are different types of adjuster licenses, depending on the area of insurance you wish to work in. The primary licenses include:
- Property and Casualty Adjuster License: This is the most common license and covers a wide range of insurance claims, including auto, home, and business property claims.
- Life and Health Adjuster License: If you wish to handle life insurance or health insurance claims, you’ll need this license.
- Public Adjuster License: A public adjuster works on behalf of policyholders to help them negotiate and settle claims with their insurance company. This license requires additional training and education beyond the basic insurance adjuster license.
Salary and Job Outlook for Insurance Adjusters in Oklahoma
The job outlook for insurance adjusters in Oklahoma is positive, as the state is frequently affected by severe weather conditions, which leads to a steady demand for insurance claims adjusters, particularly in areas like storm damage, flooding, and hail damage.
The average salary for an insurance adjuster in Oklahoma is around $55,000 to $70,000 annually. However, this can vary depending on experience, location, and whether you work for an insurance company or are self-employed as an independent adjuster.
Independent adjusters, who typically work on a contract basis, may earn higher wages per claim but do not receive benefits like health insurance or retirement contributions.
Frequently Asked Questions (FAQ)
Q1: Do I need previous experience to become an insurance adjuster in Oklahoma?
No, you do not need prior experience to become an insurance adjuster in Oklahoma. However, completing the required pre-licensing education and passing the exam is essential. Some employers may prefer candidates with prior experience in the insurance industry or related fields, but it is not a requirement to become licensed.
Q2: How long does it take to become an insurance adjuster in Oklahoma?
Becoming a licensed insurance adjuster in Oklahoma can take as little as a few weeks. The process typically involves completing 16 hours of pre-licensing education, passing the exam, and submitting your application. If you pass the exam on the first attempt, you can be licensed fairly quickly.
Q3: Can I work as an insurance adjuster in Oklahoma without a license?
No. Oklahoma law requires that all insurance adjusters be licensed to work in the state. Working without a valid license could result in penalties, including fines and loss of employment opportunities.
Q4: What is the cost of becoming an insurance adjuster in Oklahoma?
The total cost to become a licensed insurance adjuster in Oklahoma can vary, but it generally includes:
- Pre-licensing education: $100–$300
- Exam fee: $50
- License application fee: $50
- Background check fee: Varies
On average, you can expect to spend between $200 and $400 to become licensed, excluding any ongoing continuing education costs.
Q5: Can I work as an independent adjuster in Oklahoma?
Yes. Oklahoma allows individuals to work as independent adjusters. However, independent adjusters must meet the same licensing requirements as staff adjusters. Independent adjusters typically work for multiple insurance companies on a contractual basis, which can offer greater flexibility but also requires good self-management skills.
Q6: Is there a demand for insurance adjusters in Oklahoma?
Yes. Oklahoma’s weather patterns, including frequent storms, tornadoes, and hail, create a strong demand for insurance adjusters. This ensures a stable job market for those entering the profession.
